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Asian Chemical Connections

European PE, PP Contracts Likely To Fall

By John Richardson EUROPEAN polyolefin converters seem quite justified in pressurising their suppliers for further price reductions, given weak macro-economic fundamentals and still-excellent profitability at the cracker end of the value chain. The news from China continues to get worse. China’s Vice-Premier Wang Qishan said last week that the government’s 2011 targets for GDP growth and […]

Clinging On To Vain Hopes

By John Richardson ANYONE clinging on to the hope that the weakness in the global polyolefin market is merely down to China going through a prolonged period of destocking could face a rude awakening. China’s polyethylene (PE) demand was down 4% in January-May this year, at 7.1m tonnes, compared with the same period in 2010. […]

Misplaced Faith In China Recovery

By John Richardson WEAKER domestic consumption-growth in China represents a major challenge to the argument that global petrochemicals demand, and therefore pricing, will see a strong recovery during 2011. Price declines continued last week with low-density polyethylene (LDPE) down a further $20-50/tonne as the polymer, as we have reported before, continues to be dogged by […]

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